RPC (NYSE:RES) Hits New 1-Year High - What's Next?

Key Points

• RPC hit a new 52-week high of $7.43 mid-day (last $7.4290), trading up about 2% on light volume (3,677 shares) with 50- and 200-day moving averages at $6.51 and $5.84 respectively.
• Analysts' consensus is a Reduce rating with an average target of $5.50 (four Holds, one Sell); Susquehanna recently raised its target to $7.00 while Wall Street Zen downgraded the stock to Hold.
• Most recent quarter: RPC missed EPS ($0.04 vs. $0.07 est.) but revenue rose 26.9% YoY to $425.78M; the firm pays a $0.04 quarterly dividend (2.1% yield) with a payout ratio of 106.67%.

RPC, Inc. (NYSE:RES - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $7.43 and last traded at $7.4290, with a volume of 3677 shares trading hands. The stock had previously closed at $7.33.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RES. Weiss Ratings reiterated a "hold (c)" rating on shares of RPC in a research note on Tuesday, April 14th. Susquehanna lifted their target price on RPC from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 7th. Finally, Wall Street Zen downgraded RPC from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $5.50.

RPC Trading Up 2.0%

The business has a 50-day moving average price of $6.51 and a two-hundred day moving average price of $5.84. The stock has a market capitalization of $1.66 billion, a P/E ratio of 49.77 and a beta of 0.61. The company has a current ratio of 3.24, a quick ratio of 2.70 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES - Get Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). RPC had a return on equity of 5.24% and a net margin of 1.97%.The firm had revenue of $425.78 million for the quarter, compared to the consensus estimate of $423.30 million. During the same period in the prior year, the company earned $0.06 EPS. The company's revenue for the quarter was up 26.9% compared to the same quarter last year. On average, analysts expect that RPC, Inc. will post 0.18 EPS for the current fiscal year.

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, February 10th. RPC's dividend payout ratio is currently 106.67%.

Institutional Investors Weigh In On RPC

Several institutional investors and hedge funds have recently made changes to their positions in RES. EverSource Wealth Advisors LLC grew its stake in RPC by 220.6% during the second quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 4,495 shares during the period. Tower Research Capital LLC TRC boosted its holdings in RPC by 243.4% in the second quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company's stock worth $41,000 after acquiring an additional 6,153 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in RPC by 940.3% in the third quarter. Hantz Financial Services Inc. now owns 9,113 shares of the oil and gas company's stock worth $43,000 after acquiring an additional 8,237 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in RPC in the fourth quarter worth approximately $48,000. Finally, CWM LLC boosted its holdings in RPC by 88.2% in the fourth quarter. CWM LLC now owns 9,316 shares of the oil and gas company's stock worth $51,000 after acquiring an additional 4,365 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company's stock.

RPC Company Profile

RPC, Inc NYSE: RES provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.

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